City Council

(35) 14­1174­S103 EXEMPTION and TRADE, TRAVEL AND TOURISM COMMITTEE REPORT relative to allocating funds in CRA/LA Excess Non­Housing Bond Proceeds from all CRA/LA Redevelopment Project Areas to cover budgeted Fiscal Year 2023­24 staffing costs. Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: 1. DETERMINE that the allocation of CRA/LA Excess Non­Housing Bond Proceeds for staffing costs does not constitute a project as defined by Section 15378(b)(4) (Creation of Government Funding Mechanisms or Other Government Fiscal Activities) of the California Environmental Quality Act Guidelines. 2. APPROVE the recommendations listed in the April 17, 2024 report from the CRA/LA Bond Oversight Committee, attached to the Council file, relative to allocating funds in CRA/LA Excess Non­ Housing Bond Proceeds from all CRA/LA Redevelopment Project Areas to cover budgeted Fiscal Year 2023­24 staffing costs. Friday - June 21, 2024 - PAGE 43 Bond Proceeds for staffing costs does not constitute a project as defined by Section 15378(b)(4) (Creation of Government Funding Mechanisms or Other Government Fiscal Activities) of the California Environmental Quality Act Guidelines. 2. APPROVE the recommendations listed in the April 17, 2024 report from the CRA/LA Bond Oversight Committee, attached to the Council file, relative to allocating funds in CRA/LA Excess Non­ Housing Bond Proceeds from all CRA/LA Redevelopment Project Areas to cover budgeted Fiscal Year 2023­24 staffing costs. Fiscal Impact Statement: The CRA/LA Bond Oversight Committee reports that there is no impact on the City’s General Fund from the proposed appropriation. Administrative costs for the CRA/LA Excess Non­Housing Bonds Proceeds Fund No. 57D are funded solely from a portion of transfers totaling approximately $96 million in pre­2011 tax allocation bond proceeds from CRA/LA to the City (Council file No. 14­1174). Said transfers have been deposited with the Controller.